Mexico Amends Minimum Estimated Prices for Textiles, Apparel and Footwear

The Mexican government recently amended the minimum estimated prices in place on a range of textile, apparel and footwear products. In addition, two textile tariff lines have been added to the list of products subject to estimated prices.

Estimated prices are used for the valuation of certain goods subject to automatic licensing in order to avoid undervaluation as well as tax evasion. According to Mexican authorities, these prices are employed only as a reference or guideline and may not be used to determine the customs value of the good. Importers must deposit a security in order to import any goods subject to an estimated price. The amended estimated prices are available here.